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Hip providers offer deferred payment scheme to consumers

HIP Payment Services has joined forces with LMS and other providers in order to offer a deferred payment scheme to consumers.

The scheme provides vendors with the option of deferring payment for their Home Information Pack until the sale of their property has gone through, whilst removing the burden of any payment or payment collection for agents.

HIP Payment Services has launched a number of innovative, 10 month deferred payment schemes to Hip providers and estate agents, giving agents the opportunity to offer their customers a ‘buy now pay later’ payment option, whilst allowing Hip providers to receive payment promptly.

Chief executive Jeff Smith says: “Whilst the cost of a HIP is minimal when compared with the overall costs incurred in selling a home, the majority of consumers have indicated that they would prefer to pay for their HIP at the end of the process, delaying any upfront costs.

“As a result, we have developed a unique deferred payment solution which can be offered by all agents and pack providers to their customers. The scheme allows consumers to ‘buy now pay later’, paying for their HIP after their sale has gone through, enabling agents to meet the demand from their customers whilst removing the burden of chasing any necessary payment.”

LMS is currently offering the new system to its estate agency clients, and incorporating the deferred payment scheme as part of its overall offering.

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